I ran a manufacturing plant for several years. One thing I really got into was setting up production cells for efficiency. That being said, yours is ugly
I'm not trying to be a jerk, heck I know full well how it happens. You need to grab a 12 pack and spend a few nights with a pad and a tape-measure just sitting on a stool in your workspace plotting layouts and making a list of the items you use at least twice a day...everything else goes elsewhere...blah blah blah.
I see wasted space everywhere in your old place, hell that wire storage shelf alone takes up about 400% more space than the spools need. The bin-shelf is a type I hate, loads of wasted space and bins 600% bigger than they need to be. You have almost zero wall/vertical storage, etc... Proper benches with under storage would also work.
Given the tiny space you've described it's still going to be a bastard..but you'll get there.